BackJubilant Foodworks to open 250 Domino's stores in next 12-18 months; sets CAPEX of ₹900 cr
Jubilant Foodworks announced a network addition plan for the near-medium term. The company stated that the medium-term plan is for 3,000 Domino's stores --- of which -- 250 stores for Domino's India in the next 12-18 months.
PremiumLeading food services player, Jubilant Foodworks on Thursday announced its near-medium term outlook. The company plans to open 250 stores for Domino's in India in the next 12-18 months. Furthermore, Jubilant also plans to expand its Popeyes chain in the country. Also, the company has planned a CAPEX of ₹900 crore over the period. Its medium-term plan is to open 3,000 Domino's stores.
In its regulatory filing, Jubilant Foodworks announced a network addition plan for the near-medium term. The company stated that the medium-term plan is for 3,000 Domino's stores --- of which -- 250 stores for Domino's India in the next 12-18 months.
Also, the company announced opening 40-50 stores for Popeyes India in the next 12-18 months.
On Wednesday, the company launched its first restaurant of the iconic US Fried Chicken brand, Popeyes in Chennai. The brand is best known for its bold and famous Louisiana ‐style fried chicken and its signature chicken sandwich, which became a phenomenon in the United States and the rest of the globe. The flagship entry of Popeyes was marked in India with the opening of its first restaurant in Bengaluru, followed by rapid expansion to 12 restaurants across the city in less than a year.
Last month, the company unveiled 20-minutes delivery of India's largest pizza chain, Domino's in 20 zones across 14 cities in India. Outside the US, India is the largest market of Domino's network globally. The growth of this pizza chain has been impressive in the recent past in India, and the company believes there is huge potential for Domino's ahead as well.
Furthermore, in its near-medium term plan, Jubilant Foodworks has planned ₹900 crore CAPEX which will be funded entirely through internal accruals over a period of 12-18 months. Of the total CAPEX, between ₹500 crore to ₹600 crore will be funded towards stores (including re-imaging and maintenance CAPEX) and digital. Additionally, ₹300 crore will be set aside for commissaries.
For the Bengaluru commissary, Jubilant Foodworks has set a total planned investment of ₹250 crore. The commissary is expected to be operational by Q1 of FY24.
Part of Jubilant Bhartia Group, Jubilant FoodWorks holds the exclusive master franchise rights from Domino’s Pizza Inc. to develop and operate the Domino’s Pizza brand in India, Sri Lanka, Bangladesh, and Nepal. In India, it has a strong and extensive network of 1,701 Domino’s restaurants across 371 cities. In Sri Lanka and Bangladesh, the Company operates through its 100% owned subsidiary which currently has 40 and 11 restaurants respectively.
Also, the company has exclusive rights to develop and operate Dunkin’ restaurants in India and Popeyes restaurants in India, Bangladesh, Nepal, and Bhutan.
On BSE, Jubilant Foodworks stock closed at ₹510.70 apiece up by 1.43%. Its market cap is near ₹33,698 crore.
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